The U.S. Dollar gained against its major counterparts on Monday, extending recent climb on safe-haven appeal. As the euro drifted down amid concerns rising energy prices could result in stagflation and hurt euro area economic recovery.
The greenback pared some gains subsequently after oil prices retreated from nearly 14-year highs.
Crude oil prices climbed to their highest levels since 2008 on concerns about global supply amid fears the U.S. and its Western allies might impose a ban on Russian oil, condemning the country's invasion of Ukraine.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.